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Mega Millions Jackpot Hits $290 Million

5:02 PM, Mar 22, 2012   |    comments
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Greensboro, NC -- Another lottery jackpot is catching people's attention.

This time it's Mega Millions.

Friday night's draw is at $290 million.

Someone will take home the life changing loot. The rest of us will be out a couple bucks, right?

If you're in debt, that money played in the lottery won't help you pay your bills if you don't win, and credit counselors say odds are you won't win.

That's why John Brumbaugh with ClearPoint Credit Counseling Solutions warned that the money people put into trying to win the lottery usually doesn't stop at just a couple of dollars.

It can quickly become ten, twenty or more you're spending every week maybe every day, and Brumbaugh said that money can add up.

"If you spend a $1,000 a year on the lottery and you have a $1,000 in credit card debt, if you don't play the lottery by the end of that year you could have all of that debt paid off," said Brumbaugh. 

Credit counselors say if you're going to play the lottery you should never sacrifice anything to participate.

That includes paying off your debt.

"It should be nothing but disposable income that goes to the lottery and a very small amount of it at that," added Brumbaugh.

If you're having trouble getting out of debt, credit counselors recommend you seek a non-profit credit counseling agency.

They can go over your budget and see what your options are for paying down your debt.

To find a credit help agency near you, go to the National Foundation for Credit Counseling website.

WFMY News 2

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